There Is a Need to Modernize SEC Securities Laws For The Blockchain
Tag: blockchain, cryptocurrency, regulation
As part of the CoinDesk Year End Series, I wrote an article that puts a reality check on where we are pertaining to blockchain regulation in the United States.
While We Wait for Laws, We Need Better Interpretations of Existing Regulation
Here are the key points of the article:
- Since 1993, only 7 acts came into fruition affecting the SEC, so the chances are low for getting a new act in 2020, especially given it’s an election year.
- The SEC has not created any Rulemaking pertaining to the blockchain in 2019, whereas it published 36 Rulemaking updates to other aspects of the securities law. Why?
- Hester Peirce has already communicated a number of ideas and recommendations. Why aren’t they being followed?
- 4 specific actions the SEC could have undertaken if they really wanted to modernize their existing regulation pertaining to the blockchain.
The article concludes that nothing new will happen unless a leadership change occurs within the SEC.
You can read the full article on CoinDesk.
Happy New Year 2020! Let it be a good one.